620 E 3rd StFairmontMN56031
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Fairmont at 620 E 3rd St, Fairmont, MN, 56031 generates $1,150/mo in rent and, after a $709/mo payment, leaves $245/mo in cash flow. Total monthly income is $1,150/mo, and annual cash flow is $2,945/yr on $48,034 invested. Return on cash invested sits at 26.04% in year one, and rental yield is 9.52% on a $144,900 entry. Equity gained on principal adds $935/yr, while 5% annual appreciation builds toward $40,033 over five years. Five-year ROI reaches 135.85% and total cumulative return in cash sums $65,257. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,150/mo property income rather than buyer’s personal income.
Single Family
Built in 1935
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
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